DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $1.00 price target on the communications equipment provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.36% from the company’s current price.

According to Zacks, “DragonWave is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave’s products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave’s award winning Horizon® solutions are known in the industry for their leading capacity, reliability, and spectral efficiency. The company has a network of distributor and reseller partners globally. Customers include Carriers, Service Providers, Utilities, WISP’s and Enterprises. DragonWave’s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, the Middle East and North America. “

Other research analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of DragonWave in a research note on Monday, April 3rd. Desjardins cut DragonWave from a “hold” rating to a “sell” rating and dropped their price target for the company from $3.30 to $0.30 in a research note on Thursday. CIBC cut DragonWave from a “sector perform” rating to a “sector underperform” rating and set a $1.15 price target for the company. in a research note on Tuesday, May 30th. Finally, Rodman & Renshaw reiterated a “buy” rating and issued a $4.00 price target on shares of DragonWave in a research note on Monday, April 3rd. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $2.03.

DragonWave (DRWI) remained flat at $0.89 during midday trading on Monday. 149,351 shares of the company’s stock traded hands. DragonWave has a 52-week low of $0.64 and a 52-week high of $5.18. The firm’s market capitalization is $7.57 million. The stock’s 50-day moving average price is $0.87 and its 200-day moving average price is $1.33.

DragonWave (NASDAQ:DRWI) (TSE:DWI) last announced its quarterly earnings results on Wednesday, July 12th. The communications equipment provider reported ($0.52) EPS for the quarter. DragonWave had a negative net margin of 40.27% and a negative return on equity of 2,435.89%. The firm had revenue of $8.99 million during the quarter. Analysts forecast that DragonWave will post ($1.80) earnings per share for the current fiscal year.

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An institutional investor recently bought a new position in DragonWave stock. Sabby Management LLC bought a new stake in DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 466,696 shares of the communications equipment provider’s stock, valued at approximately $677,000. Sabby Management LLC owned approximately 7.65% of DragonWave as of its most recent SEC filing. 14.69% of the stock is currently owned by institutional investors.

DragonWave Company Profile

DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.

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